PROVO, Utah, Jan. 5, 2012 (GLOBE NEWSWIRE) -- Ancestry.com
Inc. (Nasdaq:ACOM), the world's largest online family
history resource, today reported that it ended the fourth
quarter with 1,703,000 paying subscribers, above the
company's guidance of
1,685,000 - 1,695,000 subscribers. Monthly churn
[1]declined to 3.8% in the quarter, down
from third quarter 2011 and fourth quarter 2010. The company
also noted it remains comfortable with its previously issued
financial guidance for the fourth
quarter and full year ended December 31, 2011.
The company also announced today that it currently expects
2012 revenue growth in the mid-to-high teens. 2012 adjusted
EBITDA
[2]margins are expected to expand
year-over-year, exclusive of ongoing investment in the
company's DNA product initiative, which could range from
$10-$15 million in 2012.
Ancestry.com anticipates reporting its full financial and
operating results for the 2011 fourth quarter and fiscal year
on February 15, 2012. The subscriber results are being
released in conjunction with the company's appearance
today at the Citi Investment Research 2011 Global
Entertainment Media and Telecommunications Conference in San
Francisco, California. A webcast of this event will be
available from the Ancestry.com Web site, http://ir.ancestry.com/. The
webcast replay will also be available until March 31, 2012 on
the investor relations section of the Ancestry.com Web site,
http://ir.ancestry.com/, under
Events and Presentations.
Ancestry.com Inc. (Nasdaq:ACOM) is the world's largest online family history resource, with approximately 1.7 million paying subscribers. More than 7 billion records have been added to the site in the past 15 years. Ancestry users have created more than 29 million family trees containing over 3 billion profiles. In addition to its flagship site www.ancestry.com, Ancestry.com offers localized Web sites designed to empower people to discover, preserve and share their family history.
Use of Non-GAAP Measures
Management believes that adjusted EBITDA is a useful measure
of operating performance because it excludes items that we do
not consider indicative of our core performance. In
determining adjusted EBITDA, we adjust net income for such
things as interest, taxes, stock-based compensation expense
and certain non-cash and non-recurring items. However,
no-nGAAP measures, such as adjusted EBITDA, should be
considered in addition to, not as a substitute for or
superior to, net income and net cash provided by operating
activities, or other financial measures prepared in
accordance with GAAP.
Our management uses adjusted EBITDA as a measure of operating
performance; for planning purposes, including the preparation
of our annual operating budget; to allocate resources to
enhance the financial performance of our business; to
evaluate the effectiveness of our business strategies; to
provide consistency and comparability with past financial
performance; to facilitate a comparison of our results with
those of other companies; and in communications with our
board of directors concerning our financial performance. We
also use adjusted EBITDA as a factor when determining the
incentive compensation pool.
This press release contains forward-looking statements. These
statements relate to future events or to future financial
performance and involve known and unknown risks,
uncertainties, and other factors that may cause our actual
results, levels of activity, performance, or achievements to
be materially different from those anticipated in these
forward-looking statements. In some cases, you can identify
forward-looking statements by the use of words such as
"may," "designed," "expect,"
"intend," "seek," "anticipate,"
"believe," "estimate,"
"predict," "potential,"
"should," "continue" or "will"
or the negative of these terms or other comparable
terminology. These statements include statements describing
our activities to enhance subscribers' experience, our
activities to promote and enhance our products, our business
outlook, the size of our market, our success in investing in
our business, including investments we are making in our core
product or new product areas, our ability to profit from new
initiatives, our intent to acquire content, our leadership
position and our opportunities and prospects for growth,
including growth in revenues, adjusted EBITDA and number of
subscribers. These forward-looking statements are based on
information available to us as of the date of this press
release. Forward-looking statements involve a number of risks
and uncertainties that could cause actual results to differ
materially from those anticipated by these forward-looking
statements. Such risks and uncertainties include a variety of
factors, some of which are beyond our control. In particular,
such risks and uncertainties include our continued ability to
attract and retain subscribers; our continued ability to
acquire content and make it available online; difficulties
encountered in integrating acquired businesses and retaining
customers; failure of our products to
meet customer demands or expectations; the adverse impact of
competitive product announcements or launches; our inability
to develop and refine new and existing products; failure of
subsequent seasons of Who Do You Think You Are? to yield
results comparable to prior seasons; failure to achieve
anticipated revenues and operating performance; changes in
overall economic conditions; the inability to attract and
retain key employees; competitors' actions; pricing and
gross margin pressures; the success of our revised pricing
structures; inability to control costs and expenses; and
significant litigation.
Information concerning additional factors that could cause
results to differ materially from those projected in the
forward-looking statements is contained under the caption
"Risk Factors" in our Quarterly Report on Form 10-Q
for the quarter ended September 30, 2011, and in discussions
in other of our SEC filings.
These forward-looking statements should not be relied upon as
representing our views as of any subsequent date and we
assume no obligation to publicly update or revise these
forward-looking statements for any reason, whether as a
result of new information, future events, or otherwise,
except as required by law.
[1]Monthly churn is a measure representing
the number of subscribers that cancel in the quarter divided
by the sum of beginning subscribers and gross subscriber
additions during the quarter. To arrive at monthly churn, the
results are divided by three.
[2]Adjusted EBITDA is defined as net income
(loss) plus net interest and other (income) expense; income
tax expense; and non-cash charges including depreciation,
amortization, impairment of intangible assets and stock-based
compensation expense.
CONTACT: Investors: Ancestry.com Inc. Deborah Crawford (801) 705-7942
dcrawford@ancestry.com
Media: Ancestry.com Inc. Heather Erickson (801) 705-7104
herickson@ancestry.com
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